Average Energy Prices in New York-Northern New Jersey – January 2013

Gasoline prices averaged $3.692 a gallon in the New York-Northern New Jersey-Long Island area in January 2013, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli noted that area gasoline prices were up 11.4 cents compared to last January when they averaged $3.578 per gallon. New York area households paid an average of 20.2 cents per kilowatt hour (kWh) of electricity in January 2013, up from 18.9 cents per kWh in January 2012. The average cost of utility (piped) gas at $1.241 per therm in January was greater than the $1.186 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.692 a gallon, New York area consumers paid 8.4 percent more than the $3.407 national average in January 2013. A year earlier, New York area gasoline prices were similar to the national average of $3.447 per gallon. In January 2013, the local price of a gallon of gasoline exceeded the national average by the largest amount in the past five Januaries. (See chart 1.)

The 20.2 cents per kWh New York households paid for electricity in January 2013 was 56.6 percent more than the nationwide average of 12.9 cents per kWh. Last January, electricity prices were 47.7 percent higher in New York compared to the nation. In the past five years, prices paid by New York area consumers for electricity exceeded the U.S. average by between 47 and 57 percent in the month of January. (See chart 2.)

Prices paid by New York area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.241 per therm, or 24.6 percent above the national average in January 2013 (99.6 cents per therm). A year earlier, area consumers paid 16.2 percent more per therm for natural gas compared to the nation. In four of the past five years, the per therm cost for natural gas in January was at least 24 percent above the U.S. average. (See chart 3.)

The New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. Consolidated Metropolitan Statistical Area (CMSA) consists of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

The Consumer Price Index for February 2013 is scheduled to be released on Friday, March 15, 2013 at 8:30 a.m. (ET).

Technical Note

Average prices are estimated from Consumer Price Index (CPI) data for selected commodity series to support the research and analytic needs of CPI data users. Average prices for electricity, utility (piped) gas, and gasoline are published monthly for the U.S. city average, the 4 regions, the 3 population size classes, 10 region/size-class cross-classifications, and the 14 largest local index areas. For electricity, average prices per kilowatt-hour (kWh) and per 500 kWh are published. For utility (piped) gas, average prices per therm, per 40 therms, and per 100 therms are published. For gasoline, the average price per gallon is published. Average prices for commonly available grades of gasoline are published as well as the average price across all grades.

Price quotes for 40 therms and 100 therms of utility (piped) gas and for 500 kWh of electricity are collected in sample outlets for use in the average price programs only. Since they are for specified consumption amounts, they are not used in the CPI. All other price quotes used for average price estimation are regular CPI data.

With the exception of the 40 therms, 100 therms, and 500 kWh price quotes, all eligible prices are converted to a price per normalized quantity. These prices are then used to estimate a price for a defined fixed quantity.

The average price per kilowatt-hour represents the total bill divided by the kilowatt-hour usage. The total bill is the sum of all items applicable to all consumers appearing on an electricity bill including, but not limited to, variable rates per kWh, fixed costs, taxes, surcharges, and credits. This calculation also applies to the average price per therm for utility (piped) gas.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 800-877-8339.

Last Modified Date: March 7, 2013

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